JAMSHED Vs. DISTRICT MAGISTRATE, HARIDWAR & OTHERS

JUDGEMENT

(1.) Petitioner had admittedly taken a loan from State Bank of India, Branch ADB Roorkee, District Haridwar, which he could not repay. Subsequently, a recovery citation dated 27.02.2018 has been issued against the petitioner.

(2.) In compliance of this Court's order dated 26.03.2018, the petitioner has deposited an amount of Rs.75,000/- (Rupees Seventy Five Thousand Only) with the respondent bank - a fact which is admitted by the learned counsel for the Bank.

(3.) Learned counsel for the petitioner has submitted that if some reasonable time is granted, the petitioner shall pay the outstanding amount to the bank in installments. Learned counsel for the respondent Bank submitted that the bank is willing to take the remaining outstanding amount in installments.